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Global Research Company MarketsandMarkets Report Suggests Personal Cloud Market to Grow $43.5 Billion by 2018

December 27, 2013
by Staff Writer

A report produced by global research company MarketsandMarkets suggests that the personal cloud market will grow to $43.5 Billion by 2018.

Entitled “Personal Cloud Market - Global Advancements, Business Models, Technology Roadmap, Forecasts and Analysis (2013-2018)”, the report considers the storage, computing and services market and considers future revenues and trends. The report also isolates what might be driving the market and considers possible restrictions to market growth.

MarketsandMarkets is based in the United States and publishes market research reports for a range of sectors. The company acts as a business intelligence partner to a number of Fortune 500 companies. Its "Personal Cloud Market" report segments the worldwide personal cloud market by revenue types (including direct revenues and indirect revenues), deployment models (particularly individual, small business and medium-sized businesses) and hosting types (specifically provider hosting and user hosting). The report also considers regional influences, looking at North America, Europe, Asia-Pacific including Japan, Middle East and Africa, and Latin America.

The report suggests that the global personal cloud market currently generates $6.6 billion and this will grow to $43.5 billion in 2018 - an annual growth rate (CAGR) of 45.61%. Individual users will remain the largest user group, but an increasing number of small and medium-sized businesses are likely to adopt this type of service. North America will continue to be the chief geographical region where personal cloud options are utilized, with Europe in second place. Usage in the Asia-Pacific (APAC) and Middle East and Africa (MEA) regions is likely to increase significantly over the next 5 years.

According to the report, trends driving the market include mobile workforce issues, data generation and access, disaster recovery and contingency planning, remote access and "Bring Your Own Device" (BYOD). The report goes on to suggest that issues such as business relationships with electronic device manufacturers and making the personal cloud appealing to business users present opportunities for market growth.

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